The UAE real estate is on a roll after a splendid 2022. It is heading for an even better 2023, with Dubai real estate driving the sector, ably supported by Sharjah and Abu Dhabi property markets.
Making the UAE real estate even stronger in 2023 is the exciting line-up of new residential developments, keenly anticipated by investors, HNWIs, and end-users.
So, without any further ado, let’s take a look at the most anticipated projects in UAE real estate in 2023:
Projects to Watch Out for in UAE Real Estate in 2023
1. Largest Apartment in Dubai by OMNIYAT
After seizing many titles of the world’s largest, biggest, deepest, etc., Dubai is all set to take another one home. It’s going to be the largest apartment in the world.
A project by OMNIYAT properties, this humongous apartment will cover a total area of 50,000 square feet. It is basically planned to be an ultra-luxury penthouse that will be nestled within ORLA amidst other luxury properties in Palm Jumeirah, Dubai.
Aptly named Sky Palace, this apartment will have three levels and feature a private elevator. Furthermore, there will be a lobby, an arrival area, and a 115-ft infinity swimming pool.
Apart from these exclusive amenities, residents of Sky Palace will have access to other notable facilities of ORLA, including but not limited to, a 492-ft private beach, a beach club, a spa, and an outdoor infinity pool.
2. DIFC Living and Innovation Two
Next up on the list of exciting upcoming projects in UAE real estate in 2023 is the very first residential development in Dubai International Financial Centre, more commonly known as DIFC.
Known as the leading international financial hub of Dubai, this sleek neighbourhood features retail outlets, galleries, green spaces, and of course, ultra-luxury office spaces.
It is now all set to become home to its first-ever residential development. Launched in November 2022, it is expected to be complete by the end of 2023. This development is part of the third phase of the DIFC’s innovation hub currently housing more than 600 tech companies.
In total, there will be 170 units complemented by state-of-the-art amenities. There will be roof terraces, vertical gardens, and beautiful roof terraces. Residents will also have access to the Gate Avenue, which is a 660,000 square feet facility home to over 150 shopping, cultural, and dining venues.
3. Burj Binghatti Jacob & Co Residences
Dubai already reserves the title of housing the tallest building in the world, i.e. the mighty Burj Khalifa.
There’s going to be another addition now in the form of Burj Binghatti Jacob & Co Residences. It is a joint venture between Binghatti Developers and Jacob & Co. The latter is an elite jewellery and watch brand.
This 104-storey skyscraper is currently underway in Business Bay. Once completed, it will break the record of Central Park Tower in New York standing tall at 1,549 feet.
Buyers can choose from a limited-edition collection of 2 and 3-bedroom apartments in the Emerald Suite Collection and Sapphire Suite Collection. They can also make a pick from 5 opulent penthouses, available in three distinct types; Billionaire, Fleurs De Jardin, and Astronomia.
Scheduled to be completed in 2026, Burj Binghatti Jacob & Co Residences will captivate one and all with its stunning design as it will be adorned with signature Jacob & Co diamonds.
It is designed to have some world-class amenities, including butler services, a private event area, a spa, an infinity pool, daycare services, a health club, etc.
4. Canal Front Residences
Located in Al Wasl, Canal Front Residences is a project of Meydan. This upcoming project is grabbing all eyes of those interested in UAE real estate in 2023 due to its strategic location, near Sheikh Zayed Road and parallel to the banks of the Dubai Water Canal.
It is going to be a 2-the project with eloquently-designed 1, 2, and 3-bedroom residences. Expected to be complete in the third quarter of 2024, Canal Front Residences will have numerous amenities, including an outdoor swimming pool with sun loungers, a play area for kids, a gym, and many more.
5. Beachfront Community in Ras Al Khaimah
Moving from Dubai, let’s now talk about a new community launched by Aldar Properties in Ras Al Khaimah.
It is going to be a massive beachfront community spanning 430,556 square feet. It will have more than 2,000 branded apartments adorned with modern luxuries and amenities. Residents will enjoy access to a private beach, a beach club, and retail spaces along with other resort offerings.
This surely makes it one of the most anticipated projects in the UAE real estate in 2023.
6. Saadiyat Lagoons
Another development by Aldar Properties expected to gain prominence in the UAE real estate in 2023 is Saadiyat Lagoons.
It is going to be a prime residential community located on Saadiyat Island available exclusively for UAE nationality holders.
This development is designed to have more than 4,000 premium residences. The first phase will have ultra-luxury villas available in 4, 5, and 6-bedroom layouts. These villas will come up with a fully-equipped show kitchen, a swimming pool, private parking spaces, staff rooms, and much more.
To sum it up, it won’t be wrong to state that the UAE real estate in 2023 is cruising at a rapid pace. With so many new and exciting projects lined up, it will continue grabbing the interest of HNWIs and foreign investors.
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